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1) Explain the advantages and disadvantages of different types of planning tools used for budgetary control

2)Compare how different organisations are adapting management accounting systems to respond to financial problems

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Beverley Smith
Beverley SmithLv2
28 Sep 2019
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You work as a Management Accounting officer in a small andmedium organization operating in either a Manufacturing, Retail,Hospitality or Construction sector with not more than fifty (50)employees and an annual net turnover not exceeding £500,000.

Management accounting plays a key role in organizations todayand therefore decision makers in the organization must understandhow to create and use good management accounting information. Intoday’s business environment, business wants to track performanceinformation that goes beyond just the cost-based information ofhistoric general ledger systems provided by traditional financialaccounting information. Good management accounting involves aresponsibility to manage a wide variety of critical managementaccounting information using management accounting system andmanagement accounting techniques such as cost-volume- profitanalysis, marginal costing and absorption costing to producerelevant management report for informed decision making.

This was the summary of the speech delivered by a conferencespeaker about the role of management accounting and managementaccounting system in an organization. The General Manager of yourorganization sees management accounting function as very crucial inproviding management information well informed decision makingwithin the organization. Knowing that you are studying managementaccounting at the HND level, the organization sponsored you toattend this conference. After this conference the Generalmanagement has asked you (Management Accounting Officer) to write areport to him covering management accounting and managementaccounting system together with different costing techniques andreporting to enable the organization implement them.

Using the above scenario and in your capacity as ManagementAccounting Officer in your organisation, continue the word reportto the General Manager addressing other issues in managementaccounting function such as budgeting and budgetary control,performance indicators and variances to bolster his/her interest tomake the management accounting function in your organisation a fulldepartment rather than a unit. The fact that management accountingsystem could enable organisations identify financial problems toenable them adopt a strategy to investigate and address them madethe General Manager determined to place much importance toestablish the department. As Management AccountingOfficer, using various relevant management accountingmaterials such as news bulletin, stakeholder reports, the YouTube,twitter, academic articles, magazine, text books, websites,journals, newspapers, and other relevant resources, your report tothe General Manager should be convincing and compelling supportedwith relevant illustrations that would generate and preserve valuefor the organisation.

Explain the advantages and disadvantages of differenttypes of planning tools that can be used for budgetary control forthe chosen scenario. This should be supported with examples andillustrations. Compare how organisations (Scenario mentioned above)such as yours should adapt management accounting systems to respondto financial problems. This should be supported with examples andillustrations (1000 words). PLEASE NO PLAGIARISM

"Accounting Adjustments" Please respond to the following:

Watch Accounting WITT’s video:https://www.youtube.com/watch?v=aPwdgUDXkkE

Next, explain the major advantages and disadvantages inherent inusing both the cash and the accrual basis of accounting. Then,determine the one (1) that you believe provides the most usefulfinancial information to users. Identify at least two (2) types ofbusinesses that would benefit by preparing financial statementsusing either the cash or accrual basis of accounting. Justify yourresponse.

Report on the different types of budgets that provide management accounting
information that might be used by organisations.
Prepare a list under the headings:
1. Title of report/budget.
2. Department/area to which the budget is applicable.
3. Primary function of the budget.
4. Supported by data from which departments/area.
5. Users including those outside of management.
Identify and collect 10 samples of reports and budgets. Make a list of these
reports/budgets, their primary function and the person or department for whom
they are prepared.

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